The Pension Fund has received 48 billion more: what does this mean for Ukrainians.

The revenues of the Pension Fund are increasing

According to inkorr.com:  

According to data for January-October of the current year, the Pension Fund of Ukraine received 487.9 billion UAH from the single social contribution. This amount exceeded the planned indicator by 48.2 billion UAH.

During the ten months of this year, the total revenues of the Pension Fund amounted to 516.7 billion UAH, which is 89.6 billion UAH more than in the same period last year. This indicates positive changes in the pension system and an increase in the level of official employment.

Financing of pension payments

Thanks to the growth of its own revenues, it has been possible to reduce the financing of pension payments from the state budget by 28.2 billion UAH compared to last year. Currently, 23.8 billion UAH has been allocated for pension payments, and insurance payments amounted to 1.6 billion UAH, of which 0.4 billion UAH went to pay for sick leaves.

Thus, the Pension Fund of Ukraine demonstrates a significant increase in revenues, indicating the stability and effectiveness of the pension system, as well as an increase in the number of employed citizens.

The increase in revenues to the Pension Fund is of great importance for improving the financing of pension payments and ensuring stability in social protection for the population. This can create a positive background for further reforms in the field of pension provision and contribute to the improvement of citizens' welfare.